Synnex (NYSE:SNX) announced after the bell Thursday that first-quarter net income fell and expenses increased. The company earned $29.7 million, or 80 cents per share, versus with $34.7 million, or 98 cents per share in the same period last year. Revenue increased 29 percent to $2.50 billion from $1.94 billion. Expenses increased to $92.2 million from $70 million a year ago and interest expenses and finance charges increased to $6.2 million from $3.8 million. CEO Kevin Murai said that he expects profit margins to increase by mid-year and project second quarter unadjusted earnings per share of 77 cents to 81 cents and revenue of $2.44 billion to $2.56 billion.
Shares are lower by neraly 7.3 percent.
Embraer (NYSE:ERJ) announced after the bell yesterday that earnings fell for the full year 2010, despite a spike in fourth quarter business. Net income in 2010 fell to $330 million, a 30 percent decline from the $465 million in 2009. Sales fell from $5.5 billion to $5.4 billion, and the company delivered 101 commercial planes and 145 executive aircraft in 2010, versus to 122 commercial and 115 executive in 2009. Revenues increased to $2 billion from $1.6 billion, and net income increased $28 million to $123 million versus the fourth quarter of 2009. Embraer projects sales of $5.6 billion in 2011.
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